In this article, we are going to outline the 10 best car insurance companies in the US and the average rate they charge for their insurance services annually.
Insurance simply refers to protection from a future financial loss in exchange for a fee where a party agrees to compensate the other party in case of a future loss or damage. Without further ado, let’s get down to the main aim of writing this article which is to talk about the 10 best car insurance companies in the US.
10 best car insurance companies in the US
Car insurance is something you certainly need but hope you don’t use it. However, if your vehicle is damaged or you damaged a third party’s car, you would be glad to have car insurance. So, this is why we carefully crafted out the 10 best car insurance companies in the US with data from the National Association of Insurance Commissioners. See the 10 best car insurance companies in the US below:
USAA
American Family
State Farm
Geico
Nationwide
Farmers
Travellers
Allstates
AAA
Progressive
USAA
USAA is the first insurer on our list of the 10 best car insurance companies in the US because of their exceptional customer service, and it is available in all 50 states including Washington D.C. However, the downside of USAA is that it offers insurance services to only members of the military, veterans, and their families.
USAA charges their target audience which are the members of the military, a thousand dollars annually for car insurance services.
American Family
American Family is the second on our list, and this car insurance company also offer exceptional customer service. However, it operates in only 19 states out of the 50 states in the US. Still, it offers its services to anybody who can afford it, unlike USAA which is limited to military personnel.
American Family offers its car insurance service for $1373 annually
State Farm
State Farm car insurance company is one of the cheapest if not the cheapest insurer on our list of the 10 best car insurance companies in the US. State Farm charges $1275 annually for their car insurance service. State Farm charges $1279 for their car insurance services
Geico
Geico car insurance company offers one of the lowest and most affordable annual rates on average among other insurers. The average annual rate that Geico will charge is $1250
Nationwide
Nationwide offers affordable rates even to drivers or car owners with poor credit. The average annual rate that Nationwide will charge is $1400.
Farmers
Farmers is a solid car insurance company in the US, and their exceptional services go for a price. They (Farmers) are of the car insurer that their annual rate is on the high side as compared to others.
Farmers typically charge over $2k to offer a car insurance service annually.
Travellers
Travellers have reasonable overall rates, with premiums below the national average in all of the categories we studied, including prices for teen drivers, young adult drivers, and senior drivers, along with the cost of policies following a ticket or DUI.
Allstate
Just like Farmers, Allstate is among the most expensive car insurance companies in the US.
Allstate charges as high as over $2K for their car insurance service.
AAA
AAA is another top car insurer in the US that you wouldn’t go wrong with when you pitch your tent with them.
AAA’s annual rate for car insurance services is $1900.
Progressive
Progressive is the last on our list of the 10 best car insurance companies in the US. They typically charge $1540.
Who are the top Auto insurance companies?
The top auto insurance companies are mostly the big guys of the American auto insurance industry. See them below:
State Farm
Geico
Progressive
Allstate
USAA
Liberty Mutual
Farmers Insurance
Travellers
Who owns Geico and Progressive?
A lot of insurance enthusiasts might think that the Geico car insurance company is owned by Progressive. Let’s clarify this now, Geico isn’t owned by Progressive.
Berkshire Hathaway owns Geico while Progressive is an independent company on its own.
So you see, the two car or auto insurance companies are not related in any way. Progressive as an auto insurance company is the second largest auto insurance company in the US.
Which is the most popular insurance company
Our metrics in deciding the most popular insurance company are based on their annual, semi or bi-annual revenue reports. So, these are the most popular insurance companies:
United health group
Berkshire Hathaway INC. The owners of Progressive auto insurance company
CVS Health Corp Group
The Cigna group
Allianz
FAQ on 10 best Car insurance companies in the US
What is the #1 auto insurance company in the US?
State Farm is the biggest or largest auto insurance company in the U. S based on market share, according to the National Association of Insurance Commissioners (NAIC).
Conclusion
In this article, we outlined the 10 best car insurance companies in the US and the rate they charge annually for their insurance services. We hope you make the best choice for your auto insurance needs with the pieces of information we discussed in
this article. Should you have further enquiries, don’t hesitate to drop it for us in the comments section below.
